Gasoline

Gasoline Prices Rise to $2.48 Per Gallon

April 21, 2015
• by Staff

Photo via Wikipedia.

The national average price for a gallon of unleaded gasoline rose 7.7 cents to $2.485 for the week ending April 20, federal records show.

Gasoline prices still remain $1.198 lower than a year ago, yet they rose across the board in nine regions tracked by the U.S. Energy Information Administration. The sharpest increase came in New England with a 14.2-cent increase to $2.491. The Central Atlantic region saw an 11.1-cent increase to $2.527. The most mild price increase came on the West Coast, excluding California, where the price rose 3.2 cents to $2.642.

Among states, 14 and the District of Columbia now have average gasoline prices of at least $2.50 with California and Hawaii averaging above $3 per gallon. At the same time, 10 states have average prices below $2.30 with Mississippi and South Carolina recording the lowest average price.

Meanwhile, the average price of diesel rose 2.6 cents to $2.78 per gallon. This price is $1.191 lower than it was a year ago.

The average fuel economy of new vehicles sold in the U.S. in December fell to 25 mpg — down 0.2 mpg from a revised November value, according to Brandon Schoettle and Michael Sivak, researchers from the University of Michigan's Transportation Research Institute (UMTRI).

The national average price of unleaded gasoline jumped 5 cents to $2.49 per gallon in the first week of 2018 and has reached a level not seen since 2014 during the week that starts the new year, according to AAA.

China is setting a deadline for automakers to end the sale of fossil-fuel powered vehicles as the country looks to reduce oil consumption and pollution and push for the development of electric vehicles. Regulators are working on a timetable for the ban.

The average national price of gasoline remained at $2.29 per gallon for the week ending March 27 amid discussion by the Organization of the Petroleum Exporting Countries (OPEC) to extend a production cut by another six months.